XRP Price Falls as Crypto Longs Get Wiped Out and XRPL Upgrade Delayed
The XRP price fell below $1.35 just now after an attempted recovery toward $1.40 lost momentum. Not just XRP, renewed selling pressure also hit the crypto market. More than $220 million in crypto long positions were reportedly liquidated over 12 hours as Bitcoin and Ethereum dropped toward $81,000 and $2,300, respectively.
The downturn comes as the XRP Ledger prepares a significant network maintenance update, although a setback in validator support has pushed its expected activation into November. The combination of weakening price action, leveraged liquidations, and uncertainty surrounding the upgrade leaves XRP wobbling, waiting to see if buyers can defend the $1.30 area.
The XRP price climbed toward $1.40 just a few hours ago before reversing lower. The token subsequently fell through the $1.38 and $1.36 areas before approaching $1.33, leaving the attempted recovery looking increasingly fragile.
As of now, XRP price is down 2% over 24 hours, despite remaining up 1.1% over seven days. The $220 million liquidation wave adds another source of pressure. When leveraged traders open long positions, they are betting that prices will rise. A sharp decline can trigger forced closures when collateral becomes insufficient, potentially adding selling pressure and accelerating losses.
For the XRP price, the immediate technical question is whether buyers can hold the $1.30–$1.32 region. A recovery above $1.35 would help ease some short-term pressure, while another breakdown could leave the token exposed to further losses.
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The XRP Ledger’s fixCleanup3_4_0 amendment was initially expected to activate on October 23, but that timeline has changed. Validator support briefly fell to 26 of 35 trusted validators, below the 29 votes required to maintain the necessary majority. The countdown consequently restarted, moving the projected activation to November 4 at 14:46 UTC.
The amendment bundles technical corrections affecting several XRPL components, including single-asset vaults, lending, automated market makers, the permissioned decentralized exchange, trust lines, NFTs, escrow, and transaction signing. These changes are intended to correct issues in the network’s implementation.
The revised upgrade timeline gives traders another date to monitor, but the XRP price must first contend with the current market downturn. If buyers defend $1.30–$1.32 and reclaim $1.35, the token could attempt another move toward $1.38 and the $1.40 area.
A sustained break below $1.30 would weaken that recovery scenario and could encourage further selling, particularly if Bitcoin and Ethereum continue to fall. Traders will also be watching whether liquidation pressure eases and whether spot-market demand returns.
The November 4 activation projection provides a potential network catalyst, provided validator support remains above the required threshold. Meanwhile, XRPL’s separate lending amendments have not received the necessary approval, meaning the maintenance update should not be confused with the launch of a fully enabled lending protocol.
For now, the XRP price faces a near-term test of market demand while the ledger’s next technical milestone moves further out. A sustained recovery will likely require stronger buying interest and improved conditions across the broader crypto market, rather than the upgrade date alone.
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The post XRP Price Falls as Crypto Longs Get Wiped Out and XRPL Upgrade Delayed appeared first on KryptoNews.
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